An easy way to locate an exact place to drill like that is to set up a laser pointer or the crosshairs of a laser level to point directly at the point of your part you wish to match a hole with. I mount my laser level on a tripod. Without moving the bike. Put the piece back on ( in this case, the fairing) and wherever that laser is pointing go ahead and drill. I have used this method around the house and the shop for different things and it works perfectly.I have toyed with that very idea too. The only thing holding me back is how big and exactly where to make that hole - after all, there's only 1 chance at getting it right.